USDJPY Daily Forecast Oct 13 2014

Outlook in USDJPY remains on the downside as long as resistance 107.81 holds on a daily closing basis , support comes at the 106.80 levels where a cut is likely , If seen , next support comes at the 106.08 levels , a halt could be seen , but further losses will pave the way towards the 104.93 levels ahead of the 140.10 levels .

On the upside , resistance comes at the 107.81 levels , sustained trading – daily closing – above the 107.81 levels will turn outlook neutral and bring consolidation , but upside move above 107.81  should be limited by the 109.22/110.08 levels, to restore the upside momentum , 110.08 should be taken out on a daily closing basis , If seen , it will target 111.00 ahead of 112.30 levels, otherwise the risk will remain on the downside even in case of bullish correction.

In all , as long as resistance 107.81 holds on a daily closing basis , outlook in USDJPY remains on the downside towards the 106.80/106.08 levels , above 107.81 will bring limited gains below 109.22/110.08 levels.

 

USDJPY Daily Forecast Oct 13 2014

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